New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1887-09-05
THE PETROLEUM MARkEE

NEWS FROM THE FIELD AND RANGE OF PRICES
No trustworthy Information obtained last week re-
gardng purposes Of the Pennsylvania Oil producers Tor
the coming winter. The impression still prevails that
some plans agreements VIII be devised by which
material output be secured 1t GER
ainy lies power OF the large individual operators
companies in the districts 10 husband the pro-
they count upon aud thereby
practically dictate prices for some time 10 come IL Is
evident the many bush features of The situation
would exerted decided influence on the market long
had II been Tor the large amount OF STOCKS
above ground. With only narrow margin between the
and the Production, the 3O0OOOOo barrels VI
burdensonc to carry But IN view Of the mag
nitude petroleum trade these stocks would be in
Significant any heavy falling OH in the yield oc-
suppose the producers should assist the deen-
Ing tendency o production by keeping new Work aown W
mn drawn upon az the rate say.
OF 1000 barrels per day. there would oe dozen men
eager " carry where there one such man To-
in Tact, sucn difference between the output ana
the demand Threatening The wpng out OF over 1,VOO0V0
barrels year, would only stimulate the home trade
and SPECULATION, would alarm Europe for its
supply. We recognize the deulles La the way oi Keep
my the d, tureiy they are not ilsurmountaDie
sensible would IL not DO wiser voluntarily W
lessen production than 10 accept the remedy sug
gested by Trends nGey 10 Keep On dfnlhg
un, 4O-eenI d.sabes The drIi and the lew lucky sur
WHO'S reap VI Tie inevitable upward reaction
follow Ing bankruptcy of their ne.gnDors
quiet ,onnuent VI ga W the West Ior the
last " inc IDEA That te SIT
uat.on, Us Is, believed W Do strvng enough "
CAUSE niproye the coming winter IRON
the eAtaUuAlary mat have aiied ffccs
tu-ua = OilJ the lowest yoInJ ouened
Az lame the prViuS..ou M V'of
u-rrcL = GAUSS uSAsStSs Vas
h,zry Dar.ei5 Ihcy Ueio" tue nsnes1
p.co tHe ocptelnvef following, "hen Vac
Situation not wO,se Ancy arc aDouI
tnc price Ior sns year 1901 Anu
1t viii market
loyeu neay oon.s, wneu the output VI
uaIe - OO,OUV Al
not tnei ooon ueseiorcu
10 present eA,ent dd not knO" then "ads
q OF the huIeIous claims mat are
made by the irenus VI me ON thaI
the StanuaId the O ~ ~ ndho IL com.
refined 50 long as pflIcs VI
Dcl0w lseSi oil ABOVE one uoiiar.
Inc nOn,ny report August showed uecideu increase
In new prOducOn, out the dig gushers VI washington
were uan. res onslLle This Dut the MChoOwn Annex
running with the hoes drilled around them
anu the rtn is held We do not aouDt mat there
may be fouad plots OF oil In Washington County,
~ nm, but there % suppose That lhey "hl
enjoy any than that OF the ola pool Iheo
are lonts in Butter county, Out IL VII!
a remarkable discovery arrest the DOWNWARD
exhibited by production on the WHOLE But inc
August report sharply contrasts with that i0r August
The average per well slightly less not"ltn
standing the phenomenal gshers struck last month"; and
the total new production nearly one'thrd ess. he
being 1865 and OF rigs up and building 40 sma Ter we
oae the reports for the last three years adding 10 the
en the movement OF the pipe line hgures In
th. nui